Analgesics market to hit expected to hit $79 billion by 2028

According to analysts at Future Market Insights (FMI), the global analgesics market is likely to be worth $79 billion by the end of 2028, indicating a compound annual growth rate of 5% over the next 10 years.

Abuse-deterrent opioids are speculated to be a significant growth market following the ongoing opioid addiction crisis in North America, as well as non-opiod painkillers to complement governmental policies that disincentivize opioid prescription. In developing markets, opioids are expected to remain a valuable investment due to the relative scarcity of analgesics generally.

Additionally, FMI reports that leading analgesics manufacturers are developing non-opioid painkillers with innovative extended release formulations, enhancing the ability for cutting-edge analgesics to treat chronic pain.